U.S. stocks drop on tapering concerns

Stocks tumble as global jitters persist

1 2 image.ashx


  • U.S. stocks decline after as investors await for the possibility of Federal Reserve tapering of its $75 Billion stimulus program as officials meet to come to a conclusion in a two day meeting that ends January 29.
  • U.S. stocks extended their loss as December homes sales fell and weakness in emerging markets pointed to lower demand for U.S. exports.
  • December new home sales fell for a second consecutive month (by 7%) though overall, sales for 2013 were still at their highest level in five years.
  • The Federal Open Market Committee’s policy meeting announcement takes place at 2 p.m. EST on Wednesday.
  • The S&P 500 lost 0.4% to 1,783.92 while the Dow Jones Industrial Average was little changed at 15,872.97. The Nasdaq was tumbled 0.9% to 4,090.03.

Categories: Equity Capital Markets

Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: